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tv   Lou Dobbs Tonight  FOX Business  December 31, 2012 7:00pm-8:00pm EST

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the americans fuming. that sentence contains the words and phrases that people want to be him. then from the english language. fiscal cliff and the most votes that we have. spoiler alert tanning, kicking the can down the road. the gurus also got lashing. they are the 38 annual misused word list. the survey by michigan's lake superior university said it is a clear indication of just how annoying 2012 has been. and it doesn't look like the people in washington are going to make next year any better. why, oh, boy, i hope i am wrong. that is my 2 cents more. that's it for tonight's "willis report", have a great new year and a great evening. good night.
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>> hello, i am adam shapiro in for lou dobbs. rich edson is live on capitol hill in washington dc to bring us up to speed on the latest. it will be get a vote tonight? >> we could get a vote tonight. reporter: they will be heading up to meeting and some details exams in $400,000 for individuals, $450,000 for married couples. from a tax increase. it would go back to clinton era rates for capital gains dividends under $450,000 per year would save the current rate. income amounts above that, we
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are talking about a 20% tax. taxes would increase there. the alternative minimum tax would be couch. it sounds tens of millions of middle-class americans, and this would be a permanent exemption for those people. as for the estate tax, it would go to 40%. there would be a one-year extension of long-term unemployment benefits. adam: what is the sticking point? it seems to me that the democrats felt they wanted, even a delay on the spending cuts. reporter: they did, and that's the problem. it is the delay on the spending cuts democrats wanted to delay the automatic spending cuts for the first few months. known as the sequester. $94 billion worth over the next year. republicans wanted to pay for that by spending cuts elsewhere. so that's something that they are still arguing out right now. republicans say that we have
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this. adam: will there be a two-month delay on the spending cuts? >> apostolate could have different votes on different spending cuts. they have the second and then the first. the second is the sequester. adam: house convenes tomorrow afternoon on the first of the year. does that mean that they vote or begin the process? >> they will work on the supplemental as well after voting on this, which is a dispute that were affected by
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hurricane sandy. adam: okay, here at fox business network, we are going to monitor all of us through the evening. we will have cuttings for you to bring you up to speed. every hour on the top of the hour. but if the senate should convene earlier within the hour, for the vote -- we will come back live to let you know how this plays out. what a wonderful way to start the new year. the u.n. and our. >> this has been a fox business special report. we now return you to your regularly scheduled programming. lou: 10 other states remain undecided as to the course they will take. all of these states, by the way, those 17 states, nearly all of them have republican governors. we are joined now by peter have johnson dinner. trial attorney, fox news legal nk tha analyst. >> it >> thank you foris having lou: the 10 commandments as part
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of their credo ay that that is pn their credo. the 10 commandments, the golden rule, delivering pleasing things to the lord. they say that we don't want to be forced to purchase pills that will kill babies. we are not going to do it. but the circuit court, the appeals court said we are going to hold up that ruling against it. in this particular case, the court says you are right that your religious exercise is something limited. you can still were shut and you say to that you are limited wit. rtgard to obamacare.ou now come the circuit court is saying nothing c happen until the appeal is theard. lou: as you say, well, -- it iss
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a short odds proposition to have got the injuncon. how long are the odds to move to the supreme court? >> i think the odds are not good. o end, they are ensuring that the catholic organizationsc orga maintain their religious liberty. and that they are not forced to violate the religious preceptsyp providing these types of pills. these types of proedures. lou: we have a number of pr lawsuits still pending. where we stand with obamacare? it seems as though the effort ti repeal it through the courts -- theeems as though it is -- >> there are a lot of robust effort. th a lot of christian organizations and it moves itswy way towards the system. at some point, the religiouseli,
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liberty issue will get the united states supreme court. not particularly in this case, the cases involving the roman catholic church.rch. we will hve this decision eventually.tle lou: very qukly, has little time left here.seventn >> okay. yes. lou: 17 states setting up these exchanges.o it starting to look like a tremendous problem. >> it is a german this problem. i don't think it they will be able to make their january 14, 2013, date. health care insurance premiums will be more expensive rather than less expensive. it usually means lower prices for consumers, but they're trying to do the opposite. lou: ad has been a mess from the beginning. >> it absolutely has. it's only going to get worse. lou: thank you so much, peter
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johnson. the admintration has endangered the life and liberty of americans, including thosezy killed in benghazi.aria by ignoring sharia law., ndrew joining me now is andrew boston. he's the author of the new book "sharia versusor freedom."shar the legacy of islamict to hav totalitarianism.ith it is great to have you with us. we appreciate it. let's start with the idea that w sharia law, a lot of people dismiss it as a cultural aspects of islamic life. it poses no threat to americans. what are your thoughts? >> sharia law is foundational in islamic society. mand but i it is also an entire political runsm, and here's where it afoul of modern human rights .ightsts unlike the bill of
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rights. includes a timeless war doctrine. als the doctrine of jihad. it also rejects basic humandom freedoms by freedom ofof conscience a freedom of speech, and it imposes discriminatory legal rgulations against non-muslim minoritiesin and women. it also includes dehumanizing punishments like lashing for alcohol consumption, stoni tolau death for adultery andn mutilating punishments as well. lou: is it your view that theren is no way in which american culture can accommodate sharia within a multicultural society? part of which ould be the muslims? >> absolutelyut not. certainly not the overtth libery crushing dehumanizing aspects of sharia. unfortunately, it is an whle. integrated who. it has proven historicallyp very
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ve difficult for mulims tosherry, secularize it and to eliminatety the liberty crushing aspects the euro one you wrote that u.s.liby amba policymakers opposed by christopher stevens havelaw sacrificed u.s. lives, ourou as, nation is ignoring sharia lawy and practices. you assert that the islamic totalitarianism, you are saying that it has a tutorial at terry and winter.ave a sular >> we have those that we chosea, to undermine and replace. hosnib mubarak, even the odious qadhafi. yet what is their replacement?n the replaceent from the get-go,o we actually supported them of
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muslim brotherhood jihadist to have a supremacist outlook. and we are still, the late ambassador stevens unfortunateln chose to go intofo th jihadist i hotbed in libya, which dates back to our borders. they were fighting then. thanyou so much for bei with rin us. lou: as the housing market really recovering? $17 trillion is riding on the answer. thes ceounting forome
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$82 bi lou: foreign buyerare helping to boost our housing msarket. those buyers accounted for billn $82 billion in home sales over the past year. 9 billion of those dollarschines coming from the chinese. t second only to those canadians, as the largest one homebuyers in presidenntry. the io and president ofao citimortgage, he is joining us the ov let's start with the overaller robustness come to power of thit recovery. is it too strong of a language to join these concepts?18 out o >> the housing is recovering on a sustained basis. eighteen out of 20 top cities are now showing growth.
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[inaudible] lou: what do you think? lo >> the general view is if you look at long-term trends fromne, 1968 onward, you know that there was a bubble in the 2006 and wei 2007 time.the general vi the general view is that it will
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take a while to getheir. lou: so someone is looking at am profit and they might eagerlyrah jumper at that rather than waitt for a full gross? >> that is the general deal. the lou: we are looking at the trila housing market value, around 17 trillion from a little over , $10 trillion in debt.t how much do you expect to see w- the market actually grow? u.s. >> well, the market is shrinking. you know, the u.s. consumers have leverage of about 124% and now it is about 114%. terms that is one of the biggest headwinds. that is not a such a bad thing either. if youthink about.
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lou: so you say that this is a market that is honorable? kn, >> i would say that this recovery is fragile. tchy. it depends -- it has also been very patchy., very it is going from a very low point in the economy, clouding some of this information. but i would think the fiscalmers cliff discussions are definitely not helping. coming consumers can see the implications of mortgage tax deductions. lou: what would happen if that would be implemented? th >> i think i would not recommen. lou: or not at this stage of theit recovery. lou: somehow i thought i would be your answer, as it would be
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for most homeowners who got used to that deduction. it is great to have you with us. the amaou. the fiscal cliff fiasco. the obama plan, to the speakersi boehner plan, it will either o alter the rising rate of spending were less than the science of our bloated government. the answer in tonight "chalk [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. ro price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing.
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lou: you know, everybody's getting pretty excited about that fiscal cliff negotiation or impasse, however you want to3 style it. mayi want t showu, lou: everybody is getting re ofed about the fiscal clifft, negotiation. i thoughtht i would show you wht thuld happen if we change into thspeaker boehner plan, the president obama plan, let's
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start out with the do-nothing plan because that's the plan we0 have right now. the cbo estimates fiscal year 2013 deficit will be, well,lionf $104 trillion for fiscal year al 2013.well, it's so we get up to 2014, it is going to be about $19.4 billion -- excuse me, trillion dollars.f $20.3 trillion. we do nothing. amat is if we do nothing aboutpb this runaway spending. responsible government.
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let's take a look at what1.6 happens. way $1.64 trillion in taxes. $82 billion per year from the top 2%. senates the n same amount of net tax hikes in the president's 2013 budget that the senate rejected unanimously. byl the tax hikes that he is requesting, the national debt by it'll instead of 25.8%, that's where you get cut down. it will amount toll $25.4 trillionthat's
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we will call at obama wins. a r the national media waiting forii that one. that is what will be. it will be a really dramaticis s scene. i want to show you exacy how changes. speaker boehner wants, oh, yeah? he is going to kick some tail. we are going to get to point you leally in dollars and the spending of this country.that'l let me rephrase that. total a $2.2 trillion reduction in thf total plan spending.
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we are looking at the republican plan. we will show you just how tough it is. the only difference is how we get there. mr. obama wants one thing and mr. boehner once another.see and weill see a knockdown drag out fight any big dramatic of negotiation. what you and i and all americans are looking at is the prospect of a recession next year if thed president and mr. boehner can't come to areement. as much as a 10% unemploymenttyn rate, because both as president and republican parties parties, as you can seema here, they aret playing at the margin in thecust tional media is not focusing
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washit the reality is. they are just playing games. righalong with the folks in washington. this president is guilty of class warfare. for wht? are you kidding me?ma. president obama seems to love rt the drama. i thought he didn't like drama. the reality is that there will be so little impact on our fiscal future. the after all of the drama and whateeer the outcome, we remaih in great jeopardy. because this isn't a fiscals. future. this is not something that any of us want. don't you love it? a lame-duck session of congress. they areon the ones who haveto steer us away from the fiscal cliff. joining us tonight, governor jo mike
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when some people struggle with their mortgage payments, they become frozen, petrified. not knowing what to do, they do nothing, but the people who do something, the people who take action, are far more likely to get the most positive outcome. making home affordable is a free government program. call now to talk one on one with a housing expert about the options that are right for you. reahelp, real answers right now.
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>> thank you. glad to be year. lou: congratulations on the new book. >> at tweeted something other than politics for a while. i'm sick of it. what we have? this same -- it's like the song by the who. meet the new boston the same as the old boss. lou: kaj cling to those politics so desperately i want to go to our first reaction, the fact that the viejo is supposed to be the smartest man the military when he was there turns out to be headed the cia the dumbest by we ever had., the mbes >> not a good week. when you add to the drama with general allan and this evernd expanding scandal it's
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tragic for their families to my tragic for all of the people the carve with them, traffic foramri lou: it seems to me we become ao society. and our various institutions, including the military, it seems there are no consequences. sittin they sit there in the energy for aircraft flying all around. we e a pretty strong light, and this actually the architect and the guy who presided over the largest conflict in american history, a conflict we have not won. >> to his credit, weave to give general petraeus credit. he is paid a price, nobody comes a general without slipping up to
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the top. i have extraordinary respect for these folks. lou: you say these folks. no one respects for supports more or military than i do. if you will, i will not indulge the plural. i'm talking about a man who sent the cia downhe gutter. >> will not defend what he did, you can't. lou: why don't we try to get to what is going on. why are we putting up with this kind of nonsense and recognizing there is a culture the military and in washington that we have to get a hold of. >> i think it is a culture all over our society. look at the sports world. virtually no part of our cture in which people don't feel they don't have to be faithful to their congress or their spouse or their families and to their jobs. the ceo of lockheed martin just
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today forced out. it is a pattern and it is not limited to the military. it permeates the entire american culture because we have said that we can pretty much do wha we want to. we spent a generation saying there is no such thing as morality, it is old-fashioned. lou: that would be your generation and mine. >> that is exactly right. no thought of divorce, live and let ve, free drugs, free sex, what do we expect? i think what we're doin we are e planted seeds when we were y do. i want to turn to, if i may. >> it isn't your show, you can do what u want to. lou: i feel compelled to talk about something other than politics because your lament about politics from the beginning.
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the grandfather's thoughts on things that matter most, we are at the very least could talk about the things that matter most as we talk. love the fact you are embracing your grandchildren. i have five of them myself, proud of them all. >> you suld be. lou: family is so important. >> we are not passing down to the next generation a sense of do right. we're not passing down to them this sense that there is something as important as honor, duty, respect, responsibility. this is written for every parent and every grandparent. i know my grandkids will not read this until i am long gone. they will bein their 40s or 50s before they care, but they will want connect with the people above them in order to connect the people coming after th. it is important we help to try to say we have made some real mistakes, but here are the things that matter. work, it matters to have respect
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for your parents, it matters to understand the world in whic you live in, it matters to understand who god is, it matters to think about the purpose of pain and suffering in your life. that is what is book does. i think it is a perfect segue because that is what is wrong with our culture. we have a don't let me have responsibility, let somebody else pay the price, i just want to have a good time and have it today.rought to you by the people who created o headedo help? is there any way to stop the document author of after america, mark stein joins me america, mark stein joins me ne
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♪ lou: welcome all fundamental dishonesty at the heart of america's financial crisis. my next guest saas americans really seems of want a european
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size government with current american size tax rates. one or the other has got to go. we will see. joining us now, author of the best seller, get ready for armageddon. also, a recording of -- i will explain my laughter. his new holiday cd, making spirits bright available on the amazon and itunes. i am trying to think how to do it. >> the words stuck in your throat. lou: it is terrific. it is wonderful. here to prove the point, and it's ggod to have you. i wish you lots of luck. by the way, s t eyn. that's right. and i got it covered. >> that's right. why do i have to take lessons from this impertinent foreigner. lou: i don't see anything important abouttit as see a lot of original thought
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and some damn fine intellect been brought to bear against an otherwise simple minded politician that cannot quite grasp the importance of solutions. you do. >> i think that was the real question of the heart of my book. i think the question at the heart of the election tat the world wanted the answer to. is the united states capable of serious course correction? and i think both on november the sixth and in the so-called fiscal clef, sokol negotiations that followed, we are telling the world that the united states is not capable of serious cose correction, and that will have catastrophic consequences for america. lou: when you say catastrophic consequences, tonight it seems as if we are, this broadcast has been organized to prove your point. bill archer joined us, former house ways and means committee in 1996 who was president at almost the destruction of the government under president clinton and speaker gingrich.
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we have hisexperience, also the experience as a member of the budget commission put together by president clinton which came to nothing. just as the simpson bowles commission came to nothing. and as this fiscal clef being managed y his president does t look promising. >> that is really the point you brought up earlier. when you have european levels of spending which we now have come up you have traditional american tax ras, that cannot give. americans have a certain self-image. canada, americans think of canada as a semi french socialist market. total governmenent spending in nada is about2% of gdp. is now 41% in the united states commits of the difference between the sturdy, manley republic of limited government and self-reliance citizens and the semi french monarchy is actually just down to 1%.
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we actually spend, government spends more per citizen on the average american thanthe french governmentoes in the average frenchman. lou: i think you're beig unfair to americans. we think of quebec, but certainly not all of canada, and moref our refuge. reach extreme. >> they're building a maple curtain. you better get there soon. lou: as we ok at what is happening, bill archer is talking about $86 trillion in unfunded liabilities as we cannot manage even e 16 trillion in debt or consecutive yars of italian dollar eficits, brought to us by george w. bus, and all fairness. >> well, i think the point here is that when people make coarisons, comparisons are relevant because you can run the numbers ansay in terms of gdp -- relation to gdp or never, we are not quite as bad as greece or portugal ornever, but they are just talking about a few
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ring keating billions. a trillion word is really unique to the united states. and i think that is what is going to kill us, the absolute numbers. germany can affo to bailout greece. nobody canafford to bailout the united states, and i would agree tually th bill archer that i think he understated. if you take the total debt situation, you're talking about just shy of three-quarters of a million dollars for the -- per american family. so you get a cup of coffee from a waitress in the diner, think of loading three-quarters of a million dollars of debt on to her shoulders for what? for what? does nothing to show for. lou: her children and their children that will be paying a large measure of that. great to have you with us. making spirits bright. and after america with one of the ugliest pictres of an american cadaver toe tag to.
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>> doom and the oven is the into debt. lou: at least some balance here. you know how much are presidenta taxes on our middle-class. >> the bill is passed. lou: the houe passes the stem emigration bill. some democrats call it acist and pandering. how is that? and republicans also introduced the achieve act. other republicans taking the lead on emigration reforms?
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♪ lou: in "lou dobbs forum" we
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will talk about illegal immigration and efforts to change our immigration laws. the house today passed the so-called stem jobs act that would provide 55,000 permanent residency vas to foreign students with advanced degrees in science, technology, engineering, and mathematics. the republican measure drew fire from democrats, some democrats, some going so far as to level the measure racist. >> that is racist if not in its intent then certainly in its effect. republicans have received were just received historically low votes from minorities in the past electn, yet they want to create an immigration system that gives vises with one hand while taking them away from minorities with the other. lou: joining as now, the co-author of numerous anti illegal immigration laws in a
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kansas secretary of state, also with us, th attorney, executive director of the national immigration forum. good to have you with t lou: and the introduction of the achieve act by republican senators, the republican version of the dream act to deal with
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young illegal immigrants in this country through no fault of their own brought into the country by their parents. your reaction. >> let me react to both bills. i agree, the perfectly good bill. we were doing since 1950 -- 1965, giving away 55,000 greenrd cards as in lottery.i'm t k many people may not realize. al giving them away in a lottery.rd and what this does is take those 55,000 pieces every year and5,0e gives away in a way that servess our national interest to people who have advanced degrees and can help our country. in contrastast, the itsy act whh is a different bill that went to the senate, i think that is a disaster. basically just a rehash amnesty version of the. >> translator:. i think it is dead on arrival and am hopeful that republicans we will hold t line and resist amnesty. lou: well, i don't persally understand how we could not
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witness the republican party and democrats. the itsy backs, to be fair, does not provide for citizenship. provides a pathway, if you will, for legal status with some rather strict conditions. >> well, because amnesty is anything that gives the illegal alien what he is stolen from the united states, whch is a presence in the united states. >> kind of a child you. >> hold on. the edgy backed gives you basically a green card forever. permanent residence status forever. even though you don't get citizenship, you get to stay here forever. now, the question of stealing, if you are giving someone lawful presence wch they did not have to wait in line. lou: i have to get him in here. i appreciate you. time constraints. youreaction to bth of these legislative --
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>> i mean, as a piece of legislation, of very solid step toward. practically zero unemployment. the house of representatives could have done bettr. we are actually need workers who are skilled engineers but who are skilled workers. lou: aren't you worried about doing what has been done to the past seven years, to quible and let the perfect the enemy of the good? we will come back and get the response to that question.
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lou: we are back with kris kobach. let's talk about the national
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immigration forum supporting the stimac to? >> yes, we are worried about the senateation and diversity. what is in store for 2013? wh well, a range of conservatives have beenr talking about this ad i think we have alot of fun in in store for us next year's the one all four of us have what witnessed what has been the painfully slow and frustrating footless path over the course of the past seven or eight years. in which democrats are insistin upon the whole rather than incrementalism and reform.
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when will we get to an enlightened position where we talk sta about whatr is in the national interest nterest and get rid of this work comprehension,hich all too often is misused? to this point it has been futile? >> it can be done. you can do it, the president is of the same party and what the chairman has done, you see. >> i look at what the speaker says. that we actually need a national immigration strategy that servicer nations interest i believe the republicans are starting to put their vision for the reforms and his national
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immigration system on the table. come january, speaker boehner, senator mcconnell, will they be able to wrangle their caucuses. lou: i don't think they will have to wrangle them so much. i'm not sure that they are going to be pursuing what you are intimating. >> what are your thoughts? are you prepared to make compromise over this achieved asked? >> not if it retains the amnesty power, which means giving presents to those who are illegal in the country. it is a fiction